Smith (DS) Regulatory News (SMDS)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR

MORE

Rule 8.3 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Full name of discloser:

Barclays PLC.

(b)

Owner or controller of interest and short

positions disclosed, if different from 1(a):

(c)

Name of offeror/offeree in relation to whose

DS SMITH PLC

relevant securities this form relates:

(d)

If an exempt fund manager connected with an

offeror/offeree, state this and specify identity of

offeror/offeree:

(e)

Date position held/dealing undertaken:

21 Jun 2024

(f)

In addition to the company in 1(c) above, is the discloser making

YES:

disclosures in respect of any other party to the offer?

INTERNATIONAL PAPER COMPANY

2.

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree

to which the disclosure relates following the dealing(if any)

Class of relevant security:

10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

24,060,686

1.74%

32,545,428

2.36%

(2)

Cash-settled derivatives:

and/or controlled:

8,981,419

0.65%

23,142,138

1.68%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

33,042,105

2.40%

55,687,566

4.04%

(b)

Rights to subscribe for new securities (including directors and other executive

options)

Class of relevant security in relation to

which subscription right exists

Details, including nature of the rights

concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchases and sales

Class of relevant

Purchase/sale

Number of

Price per unit

security

securities

10p ordinary

Purchase

2,545,761

3.6140 GBP

10p ordinary

Purchase

503,836

3.6136 GBP

10p ordinary

Purchase

222,676

3.6131 GBP

10p ordinary

Purchase

183,372

3.6004 GBP

10p ordinary

Purchase

72,963

3.6039 GBP

10p ordinary

Purchase

58,710

3.6137 GBP

10p ordinary

Purchase

43,722

3.6000 GBP

10p ordinary

Purchase

22,266

3.6027 GBP

10p ordinary

Purchase

20,238

3.5953 GBP

10p ordinary

Purchase

11,560

3.6117 GBP

10p ordinary

Purchase

8,550

3.6101 GBP

10p ordinary

Purchase

6,540

3.6060 GBP

10p ordinary

Purchase

5,605

3.6075 GBP

10p ordinary

Purchase

4,682

3.6046 GBP

10p ordinary

Purchase

4,362

3.5946 GBP

10p ordinary

Purchase

4,117

3.5931 GBP

10p ordinary

Purchase

4,047

3.6092 GBP

10p ordinary

Purchase

3,719

3.5973 GBP

10p ordinary

Purchase

2,351

3.5967 GBP

10p ordinary

Purchase

2,235

3.6051 GBP

10p ordinary

Purchase

1,672

3.6030 GBP

10p ordinary

Purchase

1,295

3.5984 GBP

10p ordinary

Purchase

1,103

3.5940 GBP

10p ordinary

Purchase

1,091

3.6080 GBP

10p ordinary

Purchase

914

3.5880 GBP

10p ordinary

Purchase

761

3.6087 GBP

10p ordinary

Sale

7,358,152

3.6132 GBP

10p ordinary

Sale

3,011,308

3.6140 GBP

10p ordinary

Sale

282,478

3.6133 GBP

10p ordinary

Sale

243,304

3.6116 GBP

10p ordinary

Sale

175,650

3.6004 GBP

10p ordinary

Sale

150,273

3.5967 GBP

10p ordinary

Sale

124,072

3.5920 GBP

10p ordinary

Sale

114,214

3.6031 GBP

10p ordinary

Sale

60,770

3.6003 GBP

10p ordinary

Sale

46,134

3.6134 GBP

10p ordinary

Sale

42,045

3.6000 GBP

10p ordinary

Sale

35,839

3.6050 GBP

10p ordinary

Sale

30,108

3.6044 GBP

10p ordinary

Sale

25,805

3.5988 GBP

10p ordinary

Sale

15,312

3.5929 GBP

10p ordinary

Sale

6,540

3.6060 GBP

10p ordinary

Sale

6,440

3.6138 GBP

10p ordinary

Sale

6,344

3.6005 GBP

10p ordinary

Sale

5,605

3.6078 GBP

10p ordinary

Sale

3,299

3.5918 GBP

10p ordinary

Sale

2,816

3.5961 GBP

10p ordinary

Sale

1,897

3.6008 GBP

10p ordinary

Sale

1,295

3.5987 GBP

10p ordinary

Sale

1,091

3.6083 GBP

10p ordinary

Sale

914

3.5880 GBP

10p ordinary

Sale

903

3.6010 GBP

10p ordinary

Sale

2,400

3.6119 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

10p ordinary

CFD

Closing Short

450

3.6140 GBP

10p ordinary

CFD

Closing Short

1,744

3.6059 GBP

10p ordinary

CFD

Closing Short

42,045

3.6000 GBP

10p ordinary

SWAP

Decreasing Long

4,047

3.6092 GBP

10p ordinary

SWAP

Decreasing Long

25,000

3.5952 GBP

10p ordinary

SWAP

Decreasing Short

1,897

3.6008 GBP

10p ordinary

SWAP

Decreasing Short

3,299

3.5918 GBP

10p ordinary

SWAP

Decreasing Short

6,440

3.6138 GBP

10p ordinary

SWAP

Decreasing Short

15,312

3.5929 GBP

10p ordinary

SWAP

Decreasing Short

25,805

3.5988 GBP

10p ordinary

SWAP

Decreasing Short

100,070

3.6007 GBP

10p ordinary

SWAP

Decreasing Short

150,273

3.5967 GBP

10p ordinary

SWAP

Decreasing Short

152,140

3.6015 GBP

10p ordinary

SWAP

Decreasing Short

282,478

3.6132 GBP

10p ordinary

SWAP

Decreasing Short

871,306

3.6100 GBP

10p ordinary

SWAP

Decreasing Short

1,677,355

3.6140 GBP

10p ordinary

SWAP

Decreasing Short

2,162,330

3.6135 GBP

10p ordinary

SWAP

Decreasing Short

135,866

3.6121 GBP

10p ordinary

SWAP

Increasing Long

15,396

3.6134 GBP

10p ordinary

SWAP

Increasing Long

17,273

3.6132 GBP

10p ordinary

SWAP

Increasing Long

21,161

3.6137 GBP

10p ordinary

SWAP

Increasing Long

35,839

3.6050 GBP

10p ordinary

SWAP

Increasing Long

114,214

3.6031 GBP

10p ordinary

SWAP

Increasing Short

2,351

3.5967 GBP

10p ordinary

SWAP

Increasing Short

2,528

3.6004 GBP

10p ordinary

SWAP

Increasing Short

72,963

3.6040 GBP

10p ordinary

SWAP

Increasing Short

96,643

3.6034 GBP

10p ordinary

CFD

Opening Long

450

3.6140 GBP

10p ordinary

CFD

Opening Long

1,744

3.6059 GBP

10p ordinary

CFD

Opening Long

2,175,016

3.6139 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings arrangements

Details of any indemnity or option arrangement, or any agreement or understanding,

formal or informal, relating to relevant securities which may be an inducement to deal

or refrain from dealing entered into by the exempt principal trader making the disclosure and any party

to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between

the person making the disclosure and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights of future acquisition or disposal of any relevant securities to which

any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

24 Jun 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213